3 Reasons to Give Life Insurance as a Gift This Holiday Season

11/14/2017

This is the time of year when everyone’s mind turns to gifts: what to get, what to spend, whom to buy for. But do your gift ideas have a lasting impact? If you’re looking for a gift with staying power, you might want to consider purchasing a life insurance policy. It may not be on a typical list, but when used correctly, it can be the gift that actually continues to give. Here are three reasons to give the gift of life insurance to a child (or another loved one) this holiday season.

Guaranteed Insurability
You want nothing but a bright future for your child or grandchild. By purchasing life insurance, you’re able to protect against a time when perhaps their insurability could be called into question. Many illnesses can prevent someone from qualifying for life insurance coverage. By purchasing a life insurance policy when a child is still young, you are securing insurability before a serious condition manifests, should such a thing occur.

Guaranteed Purchase
Along similar lines, when giving life insurance as a gift, you may have the option on certain policies to purchase what is known as a Guaranteed Purchase rider. This rider guarantees that the policy holder can purchase additional insurance, regardless of medical condition. This would allow them to continue purchasing life insurance, allowing them to build the kind of protection that can help them and their families for years to come.

Lifelong Uses of the Gift of Life Insurance
Life insurance can be used for so many things, more than most people are even aware of. For example, did you know that life insurance can help with scenarios such as:

Retirement
The opportunity for more financial freedom one day is a gift that can never be underestimated! There are certain types of life insurance policies that can build cash value over time, and that resulting cash value can be used as a form of income in retirement.

Charity
Life insurance can be used to increase charitable giving. When you or a loved one has a life insurance policy, you have the opportunity to make a larger gift than would otherwise be possible by designating a favorite charity as a beneficiary. When you buy the gift of life insurance, you’re buying the opportunity for your loved one to “pay it forward”.

College
Life insurance can also be used to make college tuition payments for your child’s future family, should they be left without his or her salary. The same goes for a mortgage.

Protecting Against the Unexpected
In the end, life is all about uncertainty. You can’t predict future health problems, financial obligations, or what someone’s life will be like in five, ten, or twenty years. What you can do is help protect that future. When you buy life insurance for a loved one, you’re purchasing something that will have lasting impact, long after the wrapping paper is cleared away and toys have been set aside. If you’re looking for a gift with real, lasting value, your local Farm Bureau agent can help!

Agent must be a registered representative of FBL Marketing Services, LLC to discuss mutual funds or college funding options.

Health insurance policies vary by carrier & individual and may not be offered through all agents or available in all states. Health insurance is underwritten by a variety of insurance companies not affiliated with our companies.

Long-Term Care and Disability Income insurance policies are underwritten by a variety of insurance companies that are not affiliated with our companies.

IMPORTANT: The information and material contained on this Web site is not an offer to sell or a solicitation to buy any security or any insurance product in any jurisdiction. No security or other insurance product is offered or will be sold in any jurisdiction in which such offer or solicitation purchase or sale would be unlawful under the securities, insurance or other laws of such jurisdiction. Not all products are available in all states. Exclusions, limitations and reductions may apply. This Web site briefly highlights Farm Bureau's insurance policies and their benefits. The contract is contained only in the policy. Farm Bureau products are offered by Farm Bureau agents. For more information about any Farm Bureau product, please contact me.